Pine Tree Equity has closed its third fund with capital commitments of $100 million. The firm’s capital raise was executed in less than 90 days and it brings the firm’s total committed capital base to nearly $200 million. The new fund was materially oversubscribed beyond its $100 million hard cap.
“We are extremely thankful to have received great support from existing investors and significant demand from new investors,” said Jeff Settembrino, Pine Tree’s Managing Partner. “Although we were oversubscribed, we wanted to keep our third fund at $100 million in order to remain dedicated to the small capitalization space where our committed capital and proven experience has helped transform entrepreneurial success stories into institutional platforms positioned for continued growth.”
Pine Tree Equity invests in companies with revenues of $10 million to $50 million and EBITDAs of $2 million to $6 million. Sectors of interest include business, consumer and financial services; consumer products; franchisors and franchisees; and niche manufacturing. Since its founding in January 2007, Pine Tree Equity has completed 21 acquisitions. The firm is based in Miami (www.pinetreeequity.com).